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2 TABLE OF CONTENTS 1. India Eyewear Industry Introduction 2. India Eyewear Industry Market Size, FY 2007-FY India Eyewear Market Segmentation 3.1. By Type of Products, FY 2007-FY By Branded and Unbranded Products, FY By Organized And Unorganized Sector, FY India Spectacle Lenses Market Introduction and Size 5. India Spectacle Lenses Market Segmentation 5.1. By Geography, FY By Organized and Unorganized Sector, FY Market Share of Major Players in the Organized Spectacle Lens Market in India, FY India Spectacle Lens Market Future Outlook and Projections, FY FY India Sunglasses Market Introduction and Size 9. India Sunglasses Market Segmentation 9.1. By Geography, FY By Designer and Non-Designer Sunglasses, FY India Sunglasses Market Competitve Landscape, FY India Sunglasses Market Future Outlook and Projections 12. India Contact Lens Market Introduction and Size 13. India Contact Lens Market Segmentation By Types of Contact Lense Users, FY Market Share of Major Players in India Contact Lens Market, FY India Contact Lens Market Future Outlook and Projections 16. India Eyewear Exports, FY 2007 FY India Eyewear Imports, FY 2007 FY

3 18. India Eyewear Industry Trends and Developments Eyewear as a Fashion Accessory Transition from Unorganized to Organized Retail Focus on Tier II and Tier III Cities Innovative Lens Offerings The Advent of New Surgical Technologies The arrival of Online Eyewear The trend of Multiple Ownership 19. India Eyewear Industry Future Outlook and Projections, FY 2014 FY Cause and Effect Relationship Analysis of the India Eyewear Industry 20. India Online Eyewear Market Introduction and Size 21. India Online Eyewear Market Segmentation By Type of Products, FY India Online Eyewear Market Customer Profile 23. Market Share of Major Players in India Online Eyewear Market, FY India Online Eyewear Market Future Outlook and Projections, FY 2014 FY Cause and Effect Relationship Analysis of the India Online Eyewear Market 25. Company Profile of Major Players in India Online Eywear Market Lenskart Business Overview Lenskart s Operational Value Chain Business Strategies Focus on Increasing Offline Presence Focus on In-House Brands Home Try-on Strategy Focus on Technology and Promotion 3

4 25.2. GKB Online Business Overview Business Strategies Leveraging Offline Infrastructure 26. India Eyewear Industry Company Profiles 27. Macroeconomic and Industry Factors: Historical and Projections Urban Population in India, FY 2007-FY Consumer Expenditure on Medical Care and Health Services, FY 2007-FY Broadband Subscribers in India, FY 2007-FY Debit Card Payments in India, FY 2007-FY Private Equity Investments in E-Commerce In India, FY2007-FY Smartphone Shipments in India, FY 2009-FY Appendix Market Definitions Abbreviations Research Methodology Data Collection Methods Approach Variables (Dependent and Independent) Final Conclusion Disclaimer 4

5 LIST OF FIGURES Figure 1: India Eyewear Industry Market Size on the Basis of Revenues in USD Million, FY 2007-FY 2013 Figure 2: Number of Cataract Surgeries Performed in India in Million, FY 2008-FY 2012 Figure 3: India Eyewear Market Segmentation on the Basis of Revenues from Different Types of Products in USD Million in Percentage, FY 2007-FY 2013 Figure 4: India Eyewear Market Segmentation on the Basis of Revenues from Branded and Unbranded Products in Percentage, FY 2013 Figure 5: India Eyewear Market Segmentation on the Basis of Revenues from the Organized and Unorganized Sector in Percentage, FY 2013 Figure 6: India Spectacle Lenses Market Size on the Basis of Revenues in USD Million, FY 2007-FY 2013 Figure 7: India Spectacle Lenses Market Segmentation on the Basis of Demand from Different Geographical Regions in Percentage, FY 2013 Figure 8: India Spectacle Lenses Market Segmentation on the Basis of Revenues from Organized and Unorganized Sector in Percentage, FY 2013 Figure 9: Market Shares of Major Players in the India Spectacle Lens Market on the Basis of Revenues in USD Million in Percentage, FY 2013 Figure 10: India Spectacle Lens Market Future Projections on the Basis of Revenues in USD Million, FY 2014-FY 2018 Figure 11: India Sunglasses Market Size on the Basis of Revenues in USD Million, FY FY 2013 Figure 12: India Sunglasses Market Segmentation on the Basis of Demand from Different Geographical Regions in Percentage, FY 2013 Figure 13: India Sunglasses Market Segmentation on the Basis of Revenues from Designer and Non-Designer Sunglasses in Percentage, FY 2013 Figure 14: India Sunglasses Market Future Projections on the Basis of Revenues in USD Million, FY 2014-FY 2018 Figure 15: India Contact Lens Market Size on the Basis of Revenues in USD Million, FY FY

6 Figure 16: India Contact Lens Market Segmentation on the Basis of Number of Conventional Contact Lens and Daily Disposable Contact Lens Users in Percentage, FY 2013 Figure 17: Market Shares of Major Players in the India Contact Lens Market, FY 2013 Figure 18: India Contact Lens Market Future Projections on the Basis of Revenues in USD Million, FY 2014-FY 2018 Figure 19: Exports of Eyewear Products from India on the Basis of Value in USD Million, FY 2007-FY 2013 Figure 20: Imports of Eyewear Products in India on the Basis of Value in USD Million, FY 2007-FY 2013 Figure 21: India Eyewear Industry Future and Projections on the Basis of Revenues in USD Million, FY 2014-FY 2018 Figure 22: India Online Eyewear Market Size on the Basis of Revenues in USD Million, FY 2011-FY 2013 Figure 23: India Online Eyewear Market Segmentation on the Basis of Revenues from Different Products in USD Million in Percentage, FY 2013 Figure 24: Distribution of Online Eyewear Buyers in India on the Basis of Gender in Percentage, FY 2013 Figure 25: Distribution of Online Eyewear Buyers in India on the Basis of Age in Percentage, FY 2013 Figure 26: Market Share of major Players in the India Online Eyewear Market on the Basis of Revenues in USD Million in Percentage, FY 2013 Figure 27: India Online Eyewear Market Future Projections on the Basis of Revenues in USD Million, FY 2014-FY 2018 Figure 28: Lenskart s Operational Value Chain Figure 29: Lenskart s Revenues Breakdown on the Basis of Sale of In-House Brands and Other Brands in USD Million in Percentage, FY 2013 Figure 30: Urban Population in India in Million, FY 2007-FY 2018 Figure 31: Consumer Expenditure on Medical Care and Health Services in USD Million, FY 2007-FY 2018 Figure 32: Broadband Subscribers in India, FY 2007-FY 2018 Figure 33: Number of Debit Card Payments in India in Million, FY 2007-FY

7 Figure 34: Private Equity Investments in E-Commerce in India in USD Million, FY FY 2018 Figure 35: Smartphone Shipments in India, FY 2009-FY

8 LIST OF TABLES Table 1: Units of Sunglasses Sold by Top Ten Manufacturers in India in Thousand, FY 2013 Table 2: Imports of Eyewear Products in India from Different Countries on the Basis of Value in USD Million, FY 2007-FY 2013 Table 3: Cause and Effect Relationship Analysis between Industry Factors and Expected Eyewear Industry Prospects Table 4: Profile of Online Eyewear Buying Population in India Table 5: Competitive Landscape of the India Online Eyewear Market, FY 2013 Table 6: Cause and Effect Relationship Analysis between Industry Factors and Expected Online Eyewear Market Prospects in India Table 7: List of a Few Eyewear Brands Offered By Lenskart Table 8: List of a Few Eyewear Brands Offered by GKB Online Table 9: Company Profiles of Major Players in the India Eyewear Industry Table 10: Correlation Matrix of the India Eyewear Industry Table 11: Regression Coefficients Output 8

9 INDIA EYEWEAR INDUSTRY MARKET SIZE, FY FY 2013 Over FY 2007-FY 2013, the eyewear market in India has grown at a CAGR of 27.4%. There has been a significant shift in the adoption trend of eyewear products in India, as the consumers have transitioned from being health conscious towards being more fashion conscious. This has spurred the demand of branded and luxury products, playing a vital part in the overall revenue growth in the last five fiscal years. Spectacle lenses comprise of a major chunk of revenues from the eyewear industry in India. The market has grown from USD million in FY 2007 to USD ~ million in FY Major share of the revenues from spectacle lenses market have been accounted for by the unorganized segment. Market for frames has been the second largest in terms of contribution to the overall eyewear revenues. Figure: India Eyewear Industry Market Size on the Basis of Revenues in USD Million, FY 2007-FY , ,000.0 USD Million 4, , , , , FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013 9

10 INDIA EYEWEAR MARKET SEGMENTATION BY TYPE OF PRODUCTS, FY 2007-FY 2013 The eyewear market in India is largely comprised of four types of products including spectacle lenses, frames, sunglasses, contact lens, while a minor segment also includes intraocular lens Historically, the spectacle lens segment has dominated the market for eyewear in India in terms of revenues (IOLs), Lasik and lens cleaning solutions. Historically, the spectacle lens segment has dominated the market for eyewear in India in terms of revenues. Sunglasses market has been one of the fastest growing segments in the India eyewear industry. Revenues from sales of sunglasses in India accounted for a 12.8% share in the eyewear industry in India in FY Easy access to international brands such as Ray-Ban, Maui Jim, Oakley, Vintage and Vogue and fashion driven purchases have stimulated the revenue growth in the sunglasses segment. Figure: India Eyewear Market Segmentation on the Basis of Revenues from Different Types of Products in USD Million in Percentage, FY 2007-FY % 90.0% Percentage(%) 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 12.8% FY'2007 FY'2008 FY'2009 FY'2010 FY'2011 FY'2012 FY'2013 Spectacle Lenses Frames Sunglasses Lenses Others 10

11 MARKET SHARE OF MAJOR PLAYERS IN THE ORGANIZED SPECTACLE LENS MARKET IN INDIA, FY 2013 Essilor was the leading manufacturer and marketer of spectacles in the Indian spectacle lens sector in FY 2013, so has been the case for the past many years. The company has witnessed tremendous growth in its business over the period of past five fiscal years, surpassing all the immediate competing companies in the India spectacle lens space. Operating in the premium end segment of lenses in the market, the company has leveraged on the strong increase in demand for high-value prescription spectacle lenses in India, which in turn has reflected in the company s revenues over the years. Figure: Market Shares of Major Players in the India Spectacle Lens Market on the Basis of Revenues in USD Million in Percentage, FY 2013 Essilor Vision Rx GKB High Tech Carl Zeiss Hoya Others 11

12 INDIA SUNGLASSES MARKET SEGMENTATION BY GEOGRAPHY, FY 2013 Demand of sunglasses from the Northern region was ~ of the total demand of sunglasses in India in the fiscal year Delhi, in particular accounted for a major portion of the total demand for branded sunglasses owing to a higher proportion of fashion driven customers with relatively higher disposable incomes. Figure: India Sunglasses Market Segmentation on the Basis of Demand from Different Geographical Regions in Percentage, FY 2013 North West South East 12

13 INDIA CONTACT LENS MARKET FUTURE OUTLOOK AND PROJECTIONS Though spectacles are the most vigorously selling eyewear products in India, sales of contact lenses are expected to grow rapidly. The contact lens market in India is expected to grow at a CAGR of 22.7%, registering revenues of USD million in FY The increase in the disposable incomes and inclining number of youths and working population in India are expected to exert a positive influence on the contact lenses sector. Additionally, the availability of contact lenses is projected to increase in India owing to an increase in the number of retail/chained outlets, consequently boosting the sales of contact lenses over the next few years. Figure 1: India Contact Lens Market Future Projections on the Basis of Revenues in USD Million, FY 2014-FY USD Million FY'2014 FY'2015 FY'2016 FY'2017 FY'

14 INDIA ONLINE EYEWEAR MARKET INTRODUCTION AND SIZE Online ordering of products such as spectacles, sunglasses, frames and contact lenses has been gaining massive traction In the past two years, the eyewear industry in India has expanded its presence to e-commerce websites. Online ordering of products such as spectacles, sunglasses, frames and contact lenses has been gaining massive traction as consumers have been increasingly progressing towards product purchase on the internet, with the presence of a whole host of varieties. The advent of websites offering eyewear online has been driven by a number of factors. The penetration of the internet and broadband, increasing sales of mobile devices such as smartphones as well as the growth of plastic card payments have all contributed to the growth of online retailing and ultimately the online eyewear market. Total number of people that shopped for eyewear products on the online channel amounted to approximately 7-8 lakh in FY Market revenues from sales of eyewear products through the online channel have grown at a CAGR of 247.6% over FY 2011-FY Figure: India Online Eyewear Market Size on the Basis of Revenues in USD Million, FY 2011-FY USD Million FY'2011 FY'2012 FY'

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